Blockchain has gained fame as the underlying system for Bitcoin and other digital cryptocurrencies, but Blockchain has many potential uses that go far beyond digital currency. From the exchange market to the bank, Blockchain can be the future of finance and financial technology. Here are some of the most interesting uses of Blockchain currently under development.
1. Digital Publishing
The interaction between online publishers and advertisers has created a synergy between the two industries. This lack of synergy and relevance seems to be very inadequate given the amount of irrelevant or ignored ads that are published daily for online visitors. (Most people have ad blockers or are so used to seeing ads that they do not deal with their existence at all).
This technology uses a patented form of cryptocurrency, commitment token, to enhance engagement; Publishers and audience members can earn tokens by commenting on and posting original content. Advertisers purchase tokens to for placement of their ads from relevant articles.
To address the issues of exhaustion and relevance that these platforms face, a new company called Solid Opinion has pioneered a new generation of article-based advertising in which advertisers can bid for specific targeted views. The platform automatically serves advertising space above relevant articles on various eligible websites.
The blockchain works with its own digital currency: the engagement token. To encourage clicks and views, content creators and the public can earn tokens by posting and commenting on unique content. Network advertisers can purchase these tokens to serve ads.
2. Fight against Electoral fraud
Another ethical application of blockchain will be its ability to help combat electoral fraud. Santiago Siri is the co-founder of Democracy Earth, a nonprofit organization that designs an application that combines voting with blockchain technology. Siri says that with cryptocurrency, electoral fraud or any other type of corruption involving money, it will no longer be possible.
“The blockchain is incorruptible, no one can change or subvert the way votes are stored, which is vital for democracy,” said Siri.
3. Going Green with Solar
If you care about the environment, know that the world of crypto-currencies can help the world to become greener. Brooklyn Microgrid allows people with solar panels to sell their electricity through a phone application. This allows people without solar panels to access the energy generated by themselves, resulting in less pollution and more energy using solar energy. Diverting energy through solar panels is not a new technology because people are already doing it. However, this is the first time residents can make money with their extra energy reserves.
With the new microgrid, it eliminates the need for an intermediary, allowing customers to fully control their power and pay for their panels faster.
The Brooklyn microgrid is just one example of how the block chain is transforming the energy sector.
3. Cloud Storage
Decentralized cloud storage solutions based on blockchains, such as Storj, allow users to obtain cryptocurrency in exchange for renting storage space from their hard drive to those who need it between counterparts.
“Storj can be faster, cheaper, and more secure than traditional cloud storage platforms – faster because multiple machines give you your file at the same time, cheaper because you rent free disk space, instead to pay for a specially designed data center, and safer because your file is encrypted and in tape You do not need to trust your files to a company, vulnerable servers or employees Storj eliminates completely trust the equation, “says the company on its website.
Storj and other decentralized cloud storage solutions, such as Siacoin and Filecoin, offer not only a more cost-effective and secure alternative to existing enterprise cloud storage platforms, but also provide users with a new source of revenue .
4. Augmented Reality
Augmented reality has also been affected by the development of cryptocurrency thanks to Blendar. This platform encourages users to view ARs with virtual tokens that can be exchanged for currency.
Augmented reality has become popular with the launch of popular games such as Pokemon Go and companies like Candy Lab. From these main platforms, a new era of startups and entrepreneurs has developed.
Fluffr.io is an augmented reality start-up based on the blockchain. This platform partnered with Blendar and Candy Lab to create personal experiences using a token that can be won and traded. Fluffr’s main goal is to serve as a platform for “social mining”, where users can earn tokens (carats or soft toys) to participate in virtual worlds.
MIT uses the blockchain to issue, display, and verify the digital credentials obtained in the theoretical courses. If all the educational institutions followed suit, you would never have to ask for another copy of your academic transcript. But the benefits go beyond efficiency, says the members of the MIT Media Lab responsible for the project. “When the certification systems do not work well, the consequences can be more than inefficient … they can be disastrous, such as when a refugee cannot present a certificate of completion of studies and cannot continue his studies.”
There are many ways to generate wealth in cryptocurrency market. The major and well-known …